Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. CanSinoBio will be able to fund much of the development of OCU300, Ocugens flagship product that targets oGVHD (ocular graft versus host disease), a common complication of bone marrow transplants. Thats not a new problem: a previous Phase 1/2 study, according to the prospectus, was discontinued early due to slow enrollment. The company noted that additional trials may be required as well. Keith Speights has no position in any of the stocks mentioned. Here are three prudent steps to take. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. *Stock Advisor returns as of June 7, 2021. And while Ocugen will need more capital at some point, the company at least has time to push OCU300 forward and get its story out to investors. But just because a company does not have crippling debt doesnt mean its a buy. What Is the Best EV Stock to Buy Now? Concerns about the delta variant, the potential need for annual booster shots and the possibility of expanding the vaccines to children have investors hopeful that Covaxin will still eventually be a huge payoff for Ocugen. The Motley Fool has no position in any of the stocks mentioned. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. quotes delayed at least 15 minutes, all others at least 20 minutes. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. Its certainly possible the deal will fall through, leaving Ocugen with just the $15.8 million in cash with which it closed the third quarter, according to its 10-Q. It has no treatments to offer the market. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Instead, this appears destined to join the long list of failed biotech startups. 1125 N. Charles St, Baltimore, MD 21201. However, sometimes the optimism isn't justified. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. These symbols will be available throughout the site during your session. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off. Histogenics itself highlights the risks involved in small-cap biotech. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. For investors new to the story, there are some positives when it comes to OCGN stock. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. See disclosure here. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Investors appear to expect that Bharat's big win for Covaxin in India could translate to success for Ocugen in the U.S. On Dec. 22, Ocugen and Bharat announced a binding letter of intent to jointly develop Covaxin for the U.S. market. As of this writing, Matt did not hold a position in any of theaforementioned securities. Ocugen estimates the drug could have as many as 63,000 potential patients. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. These options will be cheaper than owning the stock itself. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion 0.90% SPY 0.59% QQQ 0.60% TSLA 6.12% SI 60.35% CRM 11.51% RIVN 0.32% ARKK 0.96% RLY.X 56.44% PLUG 6.72% V 0.22% CDIO 13.87% RETA 5.92% More Advertisement 3rd Party Ad. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. But any success they find will be without me as a shareholder. As of this writing, Vince Martin has no positions in any securities mentioned. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Bharat Biotech has a history of successful vaccine commercialization in South Asia. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. At the beginning of 2020, Ocugen shares were trading at just 47 cents. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. A $30 million market capitalization doesnt mean Ocugen has no chance. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off. Matt McCall and the InvestorPlace Research Staff, statistics support having long-term exposure, Click here to see what Matt has up his sleeve now, There Are So Many Stocks to Buy Ocugen Isnt One of Them. Not an offer or recommendation by Stocktwits. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. The second is that the balance sheet still needs some help. In this case, shares rallied about four-fold in just a few days. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. I will concede this: The one great thing about the stock market is there is a style for everyone. Other than an emphasis on cell therapies, the companies had almost nothing in common. *Stock Advisor returns as of November 20, 2020. It has real products. Can you feel the ground moving beneath your feet? Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. The biotech stock promptly crashed by more than 30%. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. The odds of Ocugen stock winding up at zero are material. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. It has real management. The stock had gained some traction after they announced the Ocugen merger in April. However, I wont be around to find out. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. An unprofitable biotech that focused on commercializing therapies to cure blindness prior to the present pandemic, Ocugen ( OCGN) stock took on a new life on December 22, when it announced. For priority reviews, the timeline for an approval decision is reduced to six months. market." Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Why Ocugen Stock Is Crashing Today By Keith Speights - Mar 4, 2022 at 11:42AM Key Points The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Our 3 Top Picks. 1125 N. Charles St, Baltimore, MD 21201. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Do Not Sell My Personal Information (CA Residents Only). That's right -- they think these 10 stocks are even better buys. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. Do Not Sell My Personal Information (CA Residents Only). The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. Guys, theres no revenue here! Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. That's not going to happen now. Invest better with The Motley Fool. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Ocugen isnt a promotional, fly-by-night penny stock. This requires no immediate effort on your part. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. Part of the proceeds will be used to support its partnership with Bharat. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Biotech companies have emerged from similar levels to become huge winners, as evidenced simply by looking at some of the best biotech stocks for 2019. Even before that point, the most promising candidates generally can find funding. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Investors were hopeful that the small drugmaker would be able to win U.S. If Ocugen goes up, you can still profit. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. However, due to the fact the details of the definitive agreement have yet to be finalized, in addition to the current lack of insight into the U.S. regulatory pathway or commercial strategy, Ramakanth stays on the sidelines for now. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Axsome Therapeutics (NASDAQ:AXSM) had an equity value below $75 million in March 2017; its now worth over $3 billion after rising over 1,000% last year. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Conditions have only become worse since that time. Ocugen stated in a press release that it plans to "continue working with the FDA to evaluate the regulatory pathway for the pediatric use of Covaxin." Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). It is very important to do your own analysis before making any investment. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. The risk-reward proposition for Ocugen is obviously much different now than it was when individuals were buying the stock over the last several months. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. Shares of Ocugen ( OCGN) skyrocketed over 800% in the past three trading sessions after the biopharmaceutical company disclosed it had signed a binding letter of intent (LOI) with India based. How long might it take for Ocugen to win full FDA approval for Covaxin? Create your Watchlist to save your favorite quotes on Nasdaq.com. It took Moderna roughly 10 months from the initiation of the late-stage study for its COVID-19 vaccine to the point where the company filed for full FDA approval. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Nasdaq CEO Shankar Musunuri stated that he was "pleased to say" that Ocugen was in discussions with the FDA about the data it had submitted for the pediatric EUA. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Bharat's offering COVAXIN, a whole-viron inactivated COVID-19 vaccine candidate, has already shown promise in Phase 1 and 2 clinical trials in India and the enrollment of 26,000 subjects for the Phase 3 study is currently underway. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. The average Ocugen stock price for the last 52 weeks is 2.10. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. Hold) without suggesting a price target. Written by The chances of anything more are small but the rewards could be huge. Companies will inevitably be optimistic about their prospects for success (at least publicly). In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Even at around 40 cents per share, I would consider Ocugen stock overvalued. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. Even though Ocugen did raise $25 million in a private placement, the story behind OCU300 clearly was not enough to support an initial public offering on its own. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. Investors were hopeful that the small drugmaker would be able to win U.S. Ramakanth believes the broad immunity targeting different components of the virus could potentially provide better protection against emerging mutant viruses, such as the one currently circulating in the UK. With this in mind, in the Phase 1 study, COVAXIN has shown robust antibody responses against spike (S1) protein, receptor-binding domain (RBD) and the nucleocapsid (N) protein of SARS-CoV-2. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. Its worth emphasizing: Ocugen stock is a play with enormous risk. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. The FDA's decision not to issue EUA really wasn't all that surprising, though. First, the balance sheet is in at least decent shape. Theres an opportunity here. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Keith Speights has no position in any of the stocks mentioned. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Unfortunately for investors, the U.S. FDA did not grant Covaxin an Emergency Use Authorization and instead recommended in June that Ocugen opt for a Biologic License Application that will likely require additional Phase 3 testing. The broad point here is that, even with a ~$30 million market capitalization (based on updated share count information disclosed in an 8-K filing on Dec. 9), this is a company with a legitimate opportunity. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff, 5 Penny Cryptos With the Most Potential for Growth. But if they do, Ocugen stock at the least looks like an intriguing bet. Remember, though, that Moderna achieved this while working closely with the U.S. government (including receiving funding from Uncle Sam) and during a period when vaccines weren't widely available. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. For example, after the FDA revised its guidelines for the EUA process for COVID-19 vaccines, Ocugen's CEO stated, "Since we have been in discussions with the FDA since late last year, we do not believe that the FDA's recently revised guidance regarding EUAs raises any concerns about our ability to submit the EUA for Covaxin as planned." For now, the biggest near-term hope for Covaxin may be that Canada or another developed economy will buy the vaccine to share with developing nations. Investing is always a game of balancing risk and reward. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. The short answer is: everything. Learn More. Without NeoCart, that burn likely comes down. So, what goes wrong? Maybe. Ocugen announced in late Decemberit had signed a letter of intent to co-develop COVID-19 vaccine candidate Covaxin along with Indian pharmaceutical company Bharat Biotech. Keith Speights for The Motley Fool has a disclosure policy. Sign up below to get this incredible offer! Thats why we give you a wide range of Options on stocks, indices, commodities and FX. Typically, I care little about financials with biotechs. If they have solid financials, but their trials continually fail, they will likely not succeed. The stock had gained some traction after they announced the. CanSinoBio will receive some of the profits, but Ocugen still would skyrocket with FDA approval and ensuing revenue and there are more products in the pipeline. Ill be sticking to the stocks that are actually working. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. Theres even room for more lines. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. If they invent a miracle treatment for a condition, the money will find its way to the stock. Its all about choice. The median estimate. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. All rights reserved. (See OCGN stock analysis on TipRanks). That doesnt mean success is guaranteed. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Written by Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. However, even from this limited vantage point, OCGN appears destined to fail. Ocugen Inc. is a clinical stage biopharmaceutical company. 1 Reason to Buy Ocugen in 2023 and 2 Reasons to Sell, 3 Under-the-Radar Stocks With 590% to 772% Upside in 2023, According to Wall Street, 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, Want $1 Million in Retirement? That said, for investors who understand the potential downside, there is an intriguing story here. Type a symbol or company name. 1125 N. Charles St, Baltimore, MD 21201. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Plus500. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Type a symbol or company name. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. It means that institutional investors focused on the sector largely have passed on the pipeline. The potential synergies of such a union do not seem clear. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. Copyright 2023 InvestorPlace Media, LLC. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Sign up below to get this incredible offer! The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. But the allure of the space is that when a company wins, its shareholders win big. Do not expect a recovery in Ocugen stock. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. The market capitalization of Relmada Therapeutics (NASDAQ:RLMD) went from under $10 million at the end of 2017 to over $500 million at the moment. Ocugen does have at least 180 days to cure that problem, but the simplest answer is for the company to execute a reverse stock split. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. That's right -- they think these 10 stocks are even better buys. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. When the market crashed during the U.S. pandemic outbreak in March, shares of vaccine makers understandably soared as work began on developing vaccines to fight COVID-19. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. But it does mean something. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. Copy and paste multiple symbols separated by spaces. Thats the thing with these low-priced penny stocks. Buy These 2 Stocks in 2023 and Hold for the Next Decade, 2 Stocks That Are About to Make Their Shareholders Richer, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, the company's fourth-quarter conference call last month, Copyright, Trademark and Patent Information. In December, Ocugen stated that it had put together an advisory board of "leading academic and industry experts to evaluate the clinical and regulatory path to approval in the U.S. In that list, you can even include penny-stock trader.
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